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January 16, 2013
10:41 EDTKSKapStone to open new corrugated manufacturing facility in Aurora, IL
The 192,000 square foot facility located 40 miles west of the city of Chicago will produce corrugated packaging and will also include a design lab and a technical center. KapStone expects to invest approximately $8M-$10M in the first phase. The Aurora location will enhance KapStone's sales coverage in the Midwest, particularly in Chicago and surrounding areas. The first phase will begin production at the new facility in March of this year.
News For KS From The Last 14 Days
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October 1, 2014
09:10 EDTKSKapStone begins accounts receivable securitization program
KapStone Paper and Packaging (KS) entered into an accounts receivable securitization arrangement with Wells Fargo Bank (WFC) and PNC Bank (PNC) on September 26. The Securitization generated proceeds of $175M which were used to partially prepay the Company's existing term loans. Due to a lower interest rate on the Securitization, KapStone's gross annual interest expense will be reduced by approximately $2.0M. The Company's weighted average annual interest rate on its bank debt is now 1.8%. The Securitization can be repaid at any time without penalty.
September 29, 2014
10:00 EDTKSOn The Fly: Analyst Downgrade Summary
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07:02 EDTKSKapStone downgraded at KeyBanc
As previously reported, KeyBanc downgraded KapStone to Hold from Buy. The firm has increased concerns about excess containerboard supply, increased capacity and productivity, and flat demand. Price target is $35.
06:10 EDTKSKapStone downgraded to Hold from Buy at KeyBanc
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September 20, 2014
20:11 EDTKSInternational Paper, two others could be worth more as MLPs, Barron's says
International Paper (IP), Rock-Tenn (RKT), and KapStone (KS) shares could rise 50%-100% if the companies convert to MLPs, Barron's contends in a feature article. Reference Link

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